Thermal processing services provider Bodycote (Macclesfield, United Kingdom) announced that its acquisition of Lake City Heat Treating was successfully completed on January 19, 2024.
Based in Warsaw, Indiana, USA, Lake City Heat Treating is a leading civil aerospace and medical market provider of hot isostatic pressing (HIP) and vacuum heat treatment services.
According to Bodycote, Lake City Heat Treating is forecast to have achieved 2023 full-year revenues of around $14 million (£11 million). Business revenue grew by 30% in 2023, and looking ahead, the group is expected to continue delivering good progress.
Its constant growth reflects a high-quality business that successfully gained share among distinguished aerospace and medical original equipment manufacturers (OEMs). The acquisition fits with Bodycote’s strategy to grow its specialist technologies businesses, the company explains.
“Completion of the acquisition of Lake City Heat Treating is an exciting further step in our strategy to grow our specialist technologies businesses and footprint,” says Stephen Harris, group CEO of Bodycote. “This acquisition is an excellent fit, and it allows us to better address the growth opportunities in the medical and aerospace markets. We welcome the customers and employees of Lake City Heat Treating to the Bodycote Group.”
Source: Bodycote, www.bodycote.com.